Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Weighted Average Method, Single Department Analysis, Uniform Costs Hatch Company produces a product that passes through three processes: Fabrication, Assembly, and Finishing. All manufacturing costs

image text in transcribedimage text in transcribed

Weighted Average Method, Single Department Analysis, Uniform Costs Hatch Company produces a product that passes through three processes: Fabrication, Assembly, and Finishing. All manufacturing costs are added uniformly for all processes. The following information was obtained for the Fabrication Department for June: a. Work in process, June 1, had 90,000 units (40 percent completed) and the following costs: Direct materials $102,400 Direct labor 107,000 Overhead 35,000 b. During the month of June, 190,000 units were completed and transferred to the Assembly Department, and the following costs were added to production: Direct materials $218,000 Direct labor 144,000 Overhead 162,000 C. On June 30, there were 45,000 partially completed units in process. These units were 80 percent complete. Required: Prepare a cost of production report for the Fabrication Department for June using the weighted average method of costing. The report should disclose the physical flow of units, equivalent units, and unit costs and should track the disposition of manufacturing costs. Round the cost per equivalent unit to the nearest cent. Hatch Company Fabrication Department Production Report for June Unit Information Units to account for: Units to account for Units accounted for: Physical Flow Equivalent Units Total units accounted for Cost Information Costs to account for: Manufacturing Costs nuo Total costs to account for Cost per equivalent unit Costs accounted for: Units completed Units, ending work in process Total costs accounted for

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions